Bitcoin ETF approval ignites price surge to $36500After Grayscale was approved, the opportunity for Crucial Bitcoin ETF approval first appeared. So, what decision will the SEC make?After a consolidation of $35000, Bitcoin (BTC) saw strong performance, rising 3
Bitcoin ETF approval ignites price surge to $36500
After Grayscale was approved, the opportunity for Crucial Bitcoin ETF approval first appeared. So, what decision will the SEC make?
After a consolidation of $35000, Bitcoin (BTC) saw strong performance, rising 3.5% again to $36500. Bloomberg's Senior ETF Strategist James Safat has updated that the critical timing for Bitcoin ETF approval will start this Friday.
Bitcoin ETF approval door is about to open
Safat updated in its latest report that the US SEC has approved a brief window for all 12 spot Bitcoin ETFs, which will open on Friday, November 9th. Last month, the SEC approved applications from companies such as BlackRock, VanEck, Bitwise, Wisdom Tree, Fidelity, Jingshun, and Valkyrie.
However, this is the first time that grayscale has won by reopening the window, Seyyfart said, "The window for all 12 ETFs will end on November 17th. However, theoretically, from now until January 10th, 2024, the SEC may make a decision on the top 9 ETFs at any time." He added, "If approval is obtained this week, it may actually take at least one month (or even longer) to see the ETFs truly launched. The S-1 document is still under review, and there is no clearly defined deadline for this process My name is Alian8174. Welcome to the small box
James Seyfarrt further clarified this point, pointing out that the launch of ETFs must go through two key steps. Although the approval of document 19b-4 is one of them, document S-1 still requires approval from the company's finance department. As of now, there is no indication that the next step has been completed. Therefore, there may be a significant time difference between approval and actual ETF launch, which may take weeks or even months.
Therefore, the development of the situation clearly indicates that the approval of Bitcoin ETFs is most likely to occur in the first week of next year. This also allows Bitcoin to continue to receive active participation from investors.
The recent surge in Bitcoin prices has sparked bullish enthusiasm among traders. Data provider Santiment pointed out that Bitcoin has risen by 37% in just two months, which is an impressive increase. During this rebound, traders' bullish positions reached their highest level in three months, rather than bearish positions.
In addition, the total open positions of various exchanges have also significantly increased, reaching $7.2 billion. Although the current market is filled with investment enthusiasm and concerns about missed opportunities, ideally, even if these emotions cool down slightly, Bitcoin will still maintain its upward momentum# Coin Circle and Federal Reserve # # Latest News on Coin Circle # # Today's Market Review [Super Talk] # # Coin Circle News # Coin Circle Fun # # Is Bitcoin Valuable#
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